"Purchase activity for newly built homes was strong in May, with builders continuing to bring homes to the market and buyers keen to act on available units. Applications for purchase loans were up on a monthly basis and increased annually for the fourth consecutive month. Our estimate of new home sales also jumped in May, up 16 percent to the fastest pace of new home sales in 15 months." --MBA Vice President and Deputy Chief Economist Joel Kan.

Apartment occupancy is holding steady year-to-date so far in 2023, with May’s apartment occupancy rate at 94.7%--and flat from April, RealPage, Richardson, Texas, reported.